United Dominion Acquires European Cooling Tower Businesses.CHARLOTTE, N.C.--(BUSINESS WIRE)--Sept. 23, 1996--United Dominion Industries Ltd. (NYSE NYSE See: New York Stock Exchange , TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : UDI (1) (Unified Display Interface) A digital interface from the United Display Interface SIG that is designed to replace the analog VGA interface common on CRTs and flat panel monitors. UDI is expected to provide backward compatibility with DVI and HDMI interfaces. ), a manufacturer of diversified engineered products, today announced the acquisition of the SPIG SPIG Shared Parenting Information Group (UK) Group, a privately owned group of companies serving Europe's cooling tower and related components markets. Terms of the transaction were not disclosed. The SPIG Group consists of two principal businesses and related international subsidiaries which have combined annual sales of approximately $32 million. SPIG SpA, Italy's leading cooling tower company, will become part of United Dominion's Marley Cooling Tower unit, substantially expanding Marley's presence in Europe. With more than 40 percent of its sales outside Italy, SPIG primarily provides wet cooling towers for industrial power applications. COFIMCO, a manufacturer of aluminum fan assemblies and fiberglass fiberglass, thread made from glass. It is made by forcing molten glass through a kind of sieve, thereby spinning it into threads. Fiberglass is strong, durable, and impervious to many caustics and to extreme temperatures. components for wet and dry cooling towers and industrial ventilation applications, will become a stand-alone United Dominion business. COFIMCO SpA has a manufacturing facility near Stresa in Northern Italy Northern Italy comprises of two areas belonging to NUTS level 1:
William R. Holland, chairman and chief executive officer, said the addition of the SPIG Group strengthens United Dominion's cooling tower business in Europe while providing an additional platform for expanding international sales by other United Dominion units. "SPIG clearly fits our Vision '99 strategies of creating top line growth through product-line acquisitions and penetration of new international markets by our existing businesses," Holland said. "SPIG and Marley products are complementary and provide varied opportunities for new offerings in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe, while COFIMCO adds a new line of proprietary products with growth potential worldwide," he said. United Dominion manufactures proprietary engineered products for industrial and commercial customers worldwide. Following the SPIG Group acquisition, the company now has more than 11,000 employees ta 63 operating locations in 16 countries. CONTACT: United Dominion Industries Ltd. Bob Shaffer or Kathleen Brinnier, 704/347-6875 |
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